CRC Insurance Services Inc., (CRC) a wholesale insurance subsidiary of BB&T Corporation's principal subsidiary Branch Banking and Trust Company, announced today an agreement to acquire Connecticut Underwriters, Inc. (CUI). Terms were not disclosed.

Founded in 1964, Connecticut Underwriters is a premier wholesale broker/managing general agent (MGA) that has grown into one of the northeast's leading independent excess and surplus lines brokers. The Middletown, Conn.-based privately held company prides itself on providing exceptional service and unique market access. CUI will operate as part of CRC's Southern Cross Underwriters (SCU) division.

"Connecticut Underwriters is an excellent company that is highly regarded within the industry. We are eager to begin working with them to achieve strategic geographic goals," said John Howard, vice chairman and CEO of the Wholesale and Specialty division of BB&T Insurance Holdings. Howard was recently named chairman and CEO of BB&T Insurance Holdings Inc. effective Jan. 1, 2016.

CRC, with more than $4.3 billion in casualty, property and professional premiums during 2014, is the second largest wholesale property and casualty insurance broker in the United States. Founded in 1982, CRC has 46 offices throughout the country.

"This is very exciting news for the Connecticut Underwriters team," said Bill Kiley, Connecticut Underwriters president who will serve as regional director after the transaction is complete. "We look forward to joining CRC and having the opportunity to continue to deliver to our clients the same high level of service."